Regulators are warning banks to better-arm themselves against the online threat from hackers, organized crime and hactivist groups. Michael Crittenden reports on the News Hub.

This transcript has been automatically generated and may not be 100% accurate.

... the the ... U S regulators wanting banks to bolster the cybersecurity against equaling the threat from practice all the nice crime and activist groups ... will have back and mall right and right now on the New Saab good afternoon and welcome I'm Simon Constable ... with more on this story is the will Street dolls and Michael preventing comes to us now from Washington areas ... Michael exactly a exactly one of the government's eyeing ... but the message from Washington as banks of all sizes from the big it's like JPMorgan BankAmerica Sears most local banks ... need to be read these attackers ... of criminals from abroad ... you know these these hacking groups they're targeting banks banks have access to critical information obviously ... credit card numbers ... customer information ... aam and we have to worry about the financial system as a whole ... now after one of the financial system of on hold you say ... not just because money might get stolen because they could be de stabilize to me talking back about things like maybe from all the countries Swedbank elements ... bought on getting the banks with that nasty viruses things like that is that as of right ... yet exactly right just like we worry about other countries are in our energy infrastructure ... we have to worry about ... countries starting ... our financial infrastructure as well you can imagine a situation where the L A hackers um sponsored by maybe a rogue state ... try to freeze the financial system knowing can access money ... yes it's a very it to be very destabilizing for the economy and that's the that's a concern radio intercepts look at Pombo some of the ... regulators have been having meetings with thanks to tell them and I'm full of flash was used in town to ... you know basically spruce things up right ... I'm a I think this is an ongoing process for some time ... but during the financial crisis obviously people are focused elsewhere in and as we seem that the anti money laundering and some these other issues that may be dead on the back burner ... regulators want banks to focus on these issues these are ... big issues they want top executives at the old banks of all sizes to focus on this ... to make sure that they have the systems in place ... and that ... the government itself is great to deal with such a thing of the help of banks and that ... the government need to work together to make sure that were ready for any potential attack ten and is a quote from the Office of the Comptroller of the Currency ... courtyard to think of cyber risk is Palm Beach Oval role risks annual bank amounts merrily event them ... on senior critical infrastructure officer was also the Treasury's write about this that um I'm a bit Department of Homeland Security ... eyes and ... hands in the trash and get that sorted the Treasury and the fact I mean a lot of organizations and to regulate of banks ... on every war aides about this right ... pray exactly and in this touches upon ... you know everything from the National Security Agency ... to the other Fed like you said I mean he is the of this touches ... the economy touches all aspects obviously of the Bruins everyday life ... and so the of this pixel of Coronation among the government takes a lot of Coronation ... among the financial system banks have to work with each other and in this isn't a competitive issue among banks banks have to share this information as well ... so that if you know you're under attack you need to make sure that you know the company's TV business with your counterparties ... you know other trading firms are under the same attack so this is ... yet to serve a group effort and I think that's the way regulators say ... it is a perfect time as someone points out that ... they will now roll banks anymore through the front door they have extensive in the cycle well ... interesting stuff thank you Brian much Michael Pratt and we appreciate your time ...